GLOBAL MARKET ELECTRO-ACTIVE POLYMER
ACTUATORS AND SENSORS TO GROW MORE THAN DOUBLE IN FIVE YEARS

Electroactive
polymers are increasingly used in niche actuator and sensor applications
demanding large strains as compared to other piezoelectric materials. New
applications are emerging in medical devices, haptic actuators, cellular phone
cameras, smart fabrics for sensors, digital mechatronics and high strain
sensors.

According to
a new market research study from Innovative Research and Products (iRAP) titled “Electro-active Polymer Actuators and Sensors –
Types, Applications, New Developments, Industry Structure and Global Markets,”
the global market for EAP actuators and sensors reached $148 million in 2012.
This will increase to $363 million by 2017. North America had about 66% market
in 2012, followed by Europe, Japan, and rest of world. The AAGR growth rate is
expected to be 17% to 27% for the four regions surveyed for the period 2012 to
2017.

An
electroactive polymer (EAP) is a polymer that exhibits a mechanical response in
response to an electric field, or a polymer that produces energy in response to
a mechanical stress. The actuator property of some EAPs has been attractive for
a broad range of potential applications.

New EAP devices
are already replacing some mechanisms that rely on direct or indirect
displacement to produce power. An EAP actuator not only is completely different
from conventional electromechanical devices, but also separates itself from
other high-tech approaches that are based on piezoelectric materials or
shape-memory alloys by providing a significantly more power-dense package and,
in many instances, a smaller footprint.

EAP devices
are facing competition in a new rapidly evolving and highly competitive sector
of the medical market. Increased competition could result in reduced prices and
gross margins for EAP products and could require increased spending on research
and development, sales and marketing, and customer support.

Medical
devices had the largest market share in 2012 followed by haptic actuators, adjustable
apertures for cellular phones, high strain sensing in construction, smart
fabrics, and digital mechatronics. While medical devices will continue to
maintain the lead in 2017, that sector will see a modest average annual growth
rate (AAGR) of 11.8% for the period. Haptic actuators will see maximum growth
at an AAGR of 35% from 2012 to 2017.

Among the
regions, North America has the largest market share with 66% of the market and
will be maintained around 60% share till 2017.